Record Energy Storage Shipments
Achieved a record quarterly shipment of 2.7 gigawatt hours in energy storage, indicating strong growth in this segment.
Strong Revenue Performance
Total revenue reached $1.5 billion, landing at the high end of expectations.
Gross Margin Exceeded Expectations
Gross margin was 17.2%, exceeding guidance, primarily due to strong contributions from energy storage shipments.
Significant Progress in US Manufacturing
Phase one of the solar cell factory in Indiana and lithium battery factory in Kentucky are on track to start production by 2026 year-end, strengthening US supply chain.
Growth in Residential Energy Storage
Strong growth in Japan, Italy, and the US; expanding into Germany and Australia, on track to become profitable in 2025.
High-Margin Project Sales
Monetized over 500 megawatts of projects with a gross margin of 46.1%, driven by profitable project sales.